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Wednesday, January 2, 2013

Ignyta Lands $6M For Personalized Medicine

San Diego-based Ignyta has raised $6M in a Series B funding, the firm said over the holidays. The firm said the funding included $5.5M in a Series B equity funding and $500,000 in a capital term loan from Silicon Valley Bank. The first close of the Series B came in June of 2012, and was worth $2.1M, with the remaining $3.4M from Colt Ventures, City Hill Ventures, and others. Ignyta is working on personalized medicine for treatment of patients with rheumatoid arthritis (RA), lupus and other autoimmune diseases. The company said the funding will go towards advancing its products towards commercialization. More information »